BTIG Research began coverage on shares of Appian (NASDAQ:APPN) in a research report sent to investors on Monday, Marketbeat.com reports. The firm issued a neutral rating on the stock.
Several other analysts have also issued reports on APPN. SunTrust Banks initiated coverage on Appian in a report on Tuesday, November 21st. They set a buy rating and a $28.00 target price on the stock. William Blair initiated coverage on Appian in a report on Monday, November 27th. They set an outperform rating on the stock. Zacks Investment Research lowered Appian from a buy rating to a sell rating in a report on Friday, December 22nd. BidaskClub upgraded Appian from a hold rating to a buy rating in a report on Friday, December 29th. Finally, Barclays lowered Appian from an equal weight rating to an underweight rating and set a $26.00 target price on the stock. in a report on Monday, January 8th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Appian presently has a consensus rating of Hold and an average target price of $24.29.
Shares of Appian (NASDAQ APPN) opened at $29.07 on Monday. Appian has a twelve month low of $14.60 and a twelve month high of $43.26.
In other Appian news, major shareholder Qualified Master Fund L. Abdiel purchased 17,473 shares of the stock in a transaction on Friday, December 15th. The shares were purchased at an average price of $20.14 per share, with a total value of $351,906.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Abdiel Capital Management, Llc purchased 79,036 shares of the stock in a transaction on Wednesday, December 13th. The shares were acquired at an average cost of $20.40 per share, for a total transaction of $1,612,334.40. The disclosure for this purchase can be found here.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Abdiel Capital Advisors LP grew its position in shares of Appian by 32.8% in the fourth quarter. Abdiel Capital Advisors LP now owns 5,017,229 shares of the company’s stock valued at $157,942,000 after purchasing an additional 1,238,992 shares during the last quarter. Vanguard Group Inc. acquired a new position in shares of Appian in the second quarter valued at approximately $7,105,000. Brown Advisory Inc. grew its position in shares of Appian by 338.8% in the fourth quarter. Brown Advisory Inc. now owns 365,757 shares of the company’s stock valued at $11,515,000 after purchasing an additional 282,406 shares during the last quarter. Telemark Asset Management LLC grew its position in shares of Appian by 85.0% in the fourth quarter. Telemark Asset Management LLC now owns 370,000 shares of the company’s stock valued at $11,648,000 after purchasing an additional 170,000 shares during the last quarter. Finally, Nepsis Capital Management Inc. acquired a new position in shares of Appian in the fourth quarter valued at approximately $4,306,000. 15.68% of the stock is currently owned by hedge funds and other institutional investors.
Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.
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